Manhattan Associates (NASDAQ:MANH) Lowered to “Neutral” Rating by Redburn Atlantic

Redburn Atlantic lowered shares of Manhattan Associates (NASDAQ:MANH) from a buy rating to a neutral rating in a research report report published on Tuesday, MarketBeat.com reports. Redburn Atlantic currently has $200.00 price objective on the software maker’s stock, down from their prior price objective of $270.00.

MANH has been the topic of a number of other reports. Citigroup decreased their target price on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Loop Capital reissued a “hold” rating and set a $170.00 target price (down from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. Truist Financial lifted their target price on Manhattan Associates from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Robert W. Baird set a $212.00 price objective on Manhattan Associates and gave the company an “outperform” rating in a report on Wednesday, May 21st. Finally, Piper Sandler decreased their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average target price of $208.88.

Manhattan Associates Stock Up 1.9%

MANH stock opened at $192.88 on Tuesday. Manhattan Associates has a twelve month low of $140.81 and a twelve month high of $312.60. The company has a market cap of $11.71 billion, a PE ratio of 54.95 and a beta of 1.08. The business’s 50-day simple moving average is $179.65 and its 200 day simple moving average is $212.60.

Institutional Investors Weigh In On Manhattan Associates

A number of institutional investors have recently added to or reduced their stakes in MANH. Twin Tree Management LP bought a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $25,000. Whipplewood Advisors LLC bought a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $34,000. Park Square Financial Group LLC bought a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $38,000. Transce3nd LLC bought a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $41,000. Finally, Central Pacific Bank Trust Division raised its stake in shares of Manhattan Associates by 107.3% in the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker’s stock valued at $34,000 after acquiring an additional 103 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.